Comerica price target raised to $60 from $57 at Piper Sandler

Piper Sandler raised the firm’s price target on Comerica (CMA) to $60 from $57 and keeps a Neutral rating on the shares after the company filed an 8-K that included the presentation it plans to use at an industry conference. A couple crosscurrents in the guidance. On the plus side, Q2-to-date average loans are coming in better than expected, though average deposits are coming in worse than expected. Net/net, however, no change to Q2 net income interest guidance, Piper says. Finally, Comerica’s verbal remarks will include a deep-dive into its Payments & Deposits areas.